Brookfield, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Brookfield, IL Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Brookfield Housing Market Information

With a population of 18,694, 6,925 total housing units (homes and apartments), and a median house value of $261,854, Brookfield real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Brookfield, accounting for 66.82% of the village's housing units. Other types of housing that are prevalent in Brookfield include duplexes, homes converted to apartments or other small apartment buildings ( 18.81%), row houses and other attached homes ( 7.78%), and a few large apartment complexes or high rise apartments ( 6.52%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Brookfield. Owner-occupied housing accounts for 77.85% of Brookfield's homes, and 57.01% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Brookfield's housing was primarily built during this period, from the '40s through the '60s. A full 48.39% of the village's housing hails from this era. Other housing ages represented in Brookfield include homes built before 1939 ( 33.41%) and housing constructed between 1970-1999 ( 15.38%). There's also some housing in Brookfield built between 2000 and later ( 2.82%).

Brookfield Home Appreciation Rates

Brookfield's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Brookfield during the period has been just 0.33%, which is lower than 70% of US communities.

Over the last year, Brookfield appreciation rates have trailed the rest of the nation. In the last twelve months, Brookfield's appreciation rate has been 2.53%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Brookfield were at 1.12%, which equates to an annual appreciation rate of 4.55%.

Relative to Illinois, our data show that Brookfield's latest annual appreciation rate is higher than 60% of the other cities and towns in Illinois.

One very important thing to keep in mind is that these are average appreciation rates for the village. Individual neighborhoods within Brookfield differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Brookfield - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Brookfield real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$261,854

Brookfield, IL HOME PRICES

Value Range
> $1,148,000 0.4
$861,001 - $1,148,000 0.2
$574,001 - $861,000 1.1
$459,001 - $574,000 3.1
$344,001 - $459,000 15.3
$230,001 - $344,000 47.6
$115,001 - $230,000 28.0
$57,001 - $115,000 2.3
$0 - $57,000 2.0

Very High for IL
High for Nation

Value Relative to Nation Value Relative to State
24.9226277372263 15.9493670886076

Number Of Homes And Apartments:
6,925

Brookfield Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2019 Q1 - 2019 Q2
Last 12 Months:
2018 Q2 - 2019 Q2
Last 2 Years:
2017 Q2 - 2019 Q2
Last 5 Years:
2014 Q2 - 2019 Q2
Last 10 Years:
2009 Q2 - 2019 Q2
Since 2000:
2000 Q1 - 2019 Q2
46.67% 1.98%
9
4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,406 / per month

Homeownership Rate

Homeownership
Owners 77.85
Renters 22.15
Vacant 8.19

Housing Market Details

 

Age of Homes

AGE OF Brookfield HOMES
2000 or Newer 2.8
1970 - 1999 15.4
1940 - 1969 48.4
1939 or Older 33.4

Types of Homes

TYPE OF Brookfield HOMES
Single-Family 66.8
Townhomes 7.8
Small Apt. Buildings 18.8
Apt. Complexes 6.5
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Brookfield HOMES
No Bedroom 0.70
1 Bedroom 5.66
2 Bedrooms 33.82
3 Bedrooms 44.03
4 Bedrooms 12.98
5 or more bedrooms 2.81